Consolidated Planning Corp Makes New $458,000 Investment in Cabot Co. (NYSE:CBT)

Consolidated Planning Corp bought a new stake in shares of Cabot Co. (NYSE:CBT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,097 shares of the specialty chemicals company’s stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CBT. First Citizens Bank & Trust Co. grew its position in Cabot by 2.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock valued at $606,000 after acquiring an additional 109 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. UMB Bank n.a. increased its stake in Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 130 shares during the period. Miller Howard Investments Inc. NY increased its stake in Cabot by 4.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after buying an additional 132 shares during the period. Finally, CWM LLC lifted its holdings in Cabot by 35.6% during the 3rd quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 148 shares in the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Erica Mclaughlin sold 16,390 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the completion of the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $6,235,011.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,665 shares of company stock worth $4,986,299. Corporate insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CBT. JPMorgan Chase & Co. raised their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Mizuho raised their price objective on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.00.

Cabot Price Performance

NYSE CBT opened at $114.99 on Friday. The company has a market cap of $6.30 billion, a PE ratio of 17.06, a P/E/G ratio of 0.92 and a beta of 1.20. The firm’s 50 day moving average price is $109.13 and its 200-day moving average price is $101.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 27.14%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. Sell-side analysts forecast that Cabot Co. will post 7.82 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.50%. Cabot’s payout ratio is 25.52%.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.